804 Bankshire Dr

Suwanee, GA 30024

$300,000D+

4 bd · 2.5 ba · 1,998 sqft · Built 1983 · SingleFamily · Pending · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,358/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$495
• Net cashflow: $91/mo
• Annual: $1,096/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• 1% rule: 0.79%
• Cash to close: $84,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $300k.
• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (21.4% below list).
• It's been on market 72 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $236k (21.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#35 in GA, #4,463 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• Gwinnett County (suburban): math 39% / reading 43% proficiency, ranked #32 of 174 in GA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jackson Elementary School (math 39% / reading 37%, grade F, #469 of 1,228 statewide, top 38%, 1,491 students, 62% FRL); Northbrook Middle School (math 44% / reading 45%, grade D, #109 of 470 statewide, top 24%, 921 students, 59% FRL); Peachtree Ridge High School (math 31% / reading 50%, grade F, #55 of 424 statewide, top 13%, 3,300 students, 37% FRL).
• Market conditions: Rents soft (-2.5%/yr); 625 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,607 units permitted in Gwinnett County in 2024 (1,277 in 5+ unit buildings).
• Gwinnett County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $75k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 2.7% in Suwanee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.